Leonid Radvinsky , the billionaire and owner of the adult content platform OnlyFans , has died at the age of 43.
" It is with deep sorrow that we announce the passing of Leo Radvinsky. He passed away peacefully after a long battle with cancer ," the company said in a statement, while his family requested privacy during this difficult time.
According to Bloomberg, Radvinsky bought a majority stake in the platform in 2018 and played a key role in transforming it into one of the most influential digital business models in the pornographic content industry. The platform allows content creators to directly charge users for access to their material.
His death raises questions about the future ownership of the platform, which is considered one of the most controversial user-generated content services since the emergence of Facebook.
OnlyFans was founded in 2016 by British entrepreneur Guy Stokely and his son Tim Stokely, gaining huge popularity due to adult content that is not allowed on other social networks.
The platform has seen significant growth during the pandemic. Most recently, Radvinsky was in negotiations to sell a 60% stake in the company, in a deal that valued the platform at around $5.5 billion.
A San Francisco-based investment firm had reportedly begun talks to lead an offering that would combine equity with about $2 billion in debt financing. As of February, negotiations were still in the early stages.